Green Solar Energy, which provides solar energy and battery systems for residential and small commercial customers in Australia, filed on Tuesday with the SEC to raise up to $19 million in an initial public offering.
The New South Wales, Australia-based company plans to raise $19 million by offering 3.8 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Green Solar Energy would command a market value of $85 million.
Green Solar provides solar power or photovoltaic based energy solutions and power storage batteries for residential and small commercial customers in Australia. Through its wholly-owned subsidiary Green IOT, the company operates its residential and commercial rooftop solar and energy storage battery system retail and installation business.
Green Solar Energy was founded in 2019 and booked $3 million in revenue for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol GLSA. Joseph Stone Capital is the sole bookrunner on the deal.
